Another candlestick pattern supports the main short term Elliott wave count.
All three short term Elliott wave counts remain the same, as does the daily Elliott wave count.
A very short range inside day does not change the Elliott wave count. Price remains within the channel and above the short term invalidation point.
At the end of the week, on the weekly time period, new signals from On Balance Volume and the AD line give confidence in the larger picture for the Elliott wave count.
Last analysis expected upwards movement for Tuesday’s session. Price moved sideways in a small range to complete a doji candlestick, neither confirming nor invalidating yesterday’s analysis.
A small inside day, closing red, mostly fits the Elliott wave count for the short term.
Price remains above the invalidation point, which is very close by.
Last analysis expected that a pullback was not over. Downwards movement for the start of the new week fits this expectation.
A little downwards movement was expected for Wednesday’s session. A lower low and a lower high fits the definition of downwards movement.
Last analysis expected upwards movement. The whipsaw invalidated the hourly wave count, but price remains above the daily invalidation point.
The AD line, VIX and On Balance Volume all give the same signal today.
A little downwards movement was expected to 2,653. The low for the session was 2,648.
Upwards movement was still expected.
There is today a new very important signal from the AD line, which prompts me to publish a new wave count. The expected direction is the same, but the target is new.